Oil import bill falls to $11.9bn

Pakis­tan’s oil import bill decreased 1.19 per cent to $11.94 billion in the first nine months of the current fiscal year against $12.08 billion over the corresponding months of last year. The imports gradually dec­lined over the past few months before posting a negative growth, according to data compiled by the Pakistan Bureau of Statistics. In stark contrast, the import of machinery grew 13.60pc to $6.65bn during the July-March FY25 against $5.85bn in the corresponding months a year ago. The growth was recorded in the import of all machinery except mobile phones. According to the PBS data, crude oil imports increased in the first nine months of FY25, which prompted local refineries to produce more petroleum products than anticipated and boost exports.